Elon Musk Makes $43 Billion Offer to Buy Twitter

In a letter issued to Twitter Chairman Bret Taylor, Elon Musk said that the social media platform should be transformed privately to protect free speech. Details on the billion-dollar pitch below.

By Tamantha Gunn Apr 14, 2022 1:02 PMTags
Watch: 5 Things You Didn't Know About Elon Musk

Elon Musk wants to take over the Twitter world. 

Weeks after the entrepreneur, 50, became the largest shareholder in the company, he issued a letter to Twitter Chairman Bret Taylor on April 13, writing that the social media platform needed to be made private in order to protect free speech.

"I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy," he wrote. "However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company."

As a result of his beliefs, the Tesla CEO put in an offer to buy 100% of Twitter for $54.20 per share, which is equivalent to $43 billion.

"My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder," he wrote, adding that Twitter has "extraordinary potential" that he "will unlock."

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Following Musk's bid, Twitter released a statement on April 14 confirming that it received his "unsolicited, non-binding proposal" and its board of directors "will carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders."

On April 4, Musk revealed that he became Twitter's biggest shareholder with ownership of 9.2% stake in the firm. The following day, he announced that he would be joining Twitter's board, however, a few days later, Twitter CEO Parag Agrawal shared that Musk "decided not to join our board."

Will Heath/NBC/NBCU Photo Bank via Getty Images

The SpaceX CEO has offered several suggestions to improve the social media platform, including letting Twitter Blue subscribers pay with dogecoin, receiving a verified checkmark and paying less for their subscription. 

Musk also suggested that Twitter transform its San Francisco headquarters into a homeless shelter, "since no one shows up anyway."